In the News

Weekly Commodity

Highlights

Courtesy of

Brock Associates

www.brockreport.com

Nearby Futures

Weekly change

Friday's

Close

Year

Ago

Corn

+3 ¼

4.98 ¼

4.12 ½

Soybeans

-22

12.64

7.16 ¼

Wheat

-47 ¾

9.62 ½

4.71

Cattle

-.35

91.00

92.40

Hogs

+.98

54.98

61.80

Cotton

+.77

70.73

54.53

Weekly Comments: Grain and soybean futures started out last week strongly as they continue to react to bullish USDA released on Jan. 11. However, growing fears of economic recession spurred by falling U.S. stock markets and increased problems at U.S. subprime lenders helped cool off the technically overbought corn and soybean markets. Wheat futures were amazingly resilient in the face of late-week losses in corn, soybeans and other outside markets. Concerns about extremely tight world supplies kept the wheat market's attention amid fresh export demand and low U.S. hard red winter wheat seedings. Live cattle futures remained under pressure from weak cash market fundamentals and fears economic weakness could hurt meat demand. Nearby lean hog futures found some support from firmer cash hog prices, while deferred futures turned volatile amid uncertainty about future pork demand and feed prices. Cotton futures oposted modest gains as economic woes eroded early strength spurred by rising grain prices.